The growing popularity of memory cues, mini urns, 3-D printed urns, and double urns will boost revenues in the US death care market.
Arizton’s recent market research report on the US death care market identifies Service Corporation International (SCI), Hillenbrand, StoneMor, Carriage Services, and NorthStar Memorial Group as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by operations (funeral homes and cemeteries), by arrangement (at-need and pre-need), and by-products and services (caskets & vaults, facility rentals, embalming & cosmetic preparation, urns, and others).
The US death care market is expected to reach values of approximately $68 billion by 2023, growing at a CAGR of more than 4% during 2017-2023.
The US death care market is divided into three major segments that consist of operations, arrangements, and products and services.
Urn segment to grow at the fastest CAGR in the US death care market during the forecast period
The US death care market by products and services is segmented into caskets & vaults, facility rentals, embalming & cosmetic preparation, urns, and others. Urns segment dominated around 1/3rd of the total market share in 2017, growing at a CARG of approximately 3% during the forecast period. The increasing number of cremations is driving the demand for urns in the US market. The service providers are offering a wide variety of products in a host of shapes, sizes and for every taste to gain a larger US death care market size. The introduction of eco-friendly urns that are made from rapidly renewable wood, clay, and salt, and other environmentally- conscious ones made from recycled materials plastics will transform the US market. The introduction of urns designed with clay and water-soluble colors for scattering ashes on huge, natural water bodies will help promote sustainable development in the US market. The increasing focus on convenience among funeral home service providers will encourage the vendors to offer scattering urns that allow effortless ash distribution in the US market. The growing popularity of memory cues, mini urns, 3-D printed urns, and double urns will boost revenues in the US death care market.
At-need segment to grow at a considerable CAGR in the US death care market during the forecast period
The arrangement segment in the US death care market is categorized into at-need and pre-need services. The at-need arrangement segment dominated the largest market share in 2017, growing at a CAGR of around 2% during the forecast period. At-need arrangements are usually made with cemeteries and mortuaries when no plans have been made before death. They are also carried out when the surviving family members decide to wait forpost-death to make arrangements. The 5X times increase in the national population is promoting the requirement of at-need arrangements in the US market. The increase in the number of unexpected deaths cases is driving the at-need arrangement segment in the US death care market. In 2016, an average of 106 people in theUS died per day due to injuries related to firearms (including suicides, homicides, legal intervention, unintentional firearm deaths, and firearm deaths of undetermined intent). The clients not knowing what they want in services will also encourage the service providers to diversify their product portfolio in the US market. The introduction of higher-grade services will help boost revenues in the US death care market.
Cemeteries segment to grow at a significant CAGR in the US death care market during the forecast period
The US death care market by operations is classified into funeral homes and cemeteries. Cemeteries occupied around 1/3rd of the total market share in 2017, growing at a CAGR of around 3% during the forecast period. The cemetery operations deal with internment rights, the sale of plots, graves, and other spaces, memorial and burial products, pre-burial and cremation services in the market. The service providers are offering markers, caskets, urns, ornamental goods, vaults, and cremation niches to gain a maximum number of consumers in the US death care market. The increasing focus on cremation and the new trend of sustainable burials and cremation will boost revenues in this segment in the US market. The vendors are offering high-value services and merchandising to offer seamless services in the market. The players are providing more niches for urns in benches, columns, and columbaria for those who want a funeral ritual even when opting for cremation in the US death care market.
The other prominent players in the US death care market are Astral, Baalmann Mortuary, Campbell Funeral Homes, Charbonnet Family Services, Classic Memorials, CJ. Boots Casket Company, Creter Vault Corporation, Doric Products, Evergreen Washelli, Giles Memory Gardens, Kepner Funeral Homes, McMahon, Lyon & Hartnett Funeral Home, Musgrove Mortuaries and Cemeteries, Natural Legacy USA, Newton Cemetery, The Northern Craft Advantage, Nosek-McCreery Funeral, Cremation & Green services, Park Lawn Cemetery, Rock of Ages, Sauder Funeral Products, Sich, Sunset Memorial Park, Starbuck Funeral Home, Thacker Caskets, Trigard, The Tribute Companies, Victoriaville & Co., and Wilbert Funeral Services.
The complete overview of the latest market research report on US death care market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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